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Harena raises £2m for development of Madagascar project

The area surrounding the Ampasindava ionic clay rare earth project, in Madagascar

The area surrounding the Ampasindava ionic clay rare earth project, in Madagascar

18th February 2026

By: Sabrina Jardim

Senior Online Writer

     

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London-listed Harena Rare Earths has raised gross proceeds of £2-million through a direct subscription for 90.91-million new ordinary shares of 0.5p each in the company by a prominent international investor.

Proceeds will be used for the continuation of development work on the Ampasindava ionic clay rare earth project, in Madagascar, engagement with the US International Development Finance Corporation and for ongoing working capital requirements.

The subscription shares will be issued at a price of 2.2p per new subscription share.

"I am delighted to welcome this new globally recognised international investor, whose investment is another endorsement of our world-class rare earth project and our strategy for its development,” says Harena executive chairperson Ivan Murphy.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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